Treasury minister has stake in property finance group

Chris Philp, the new chief secretary to the Treasury, is facing questions after it emerged he still has a substantial stake in a property finance group and is director of an investment company. The MP, who has responsibility for spending policy in relation to housing and planning, is a member of a partnership that owns Pluto Finance. Pluto offers multi-million-pound loans to property developers. According to the register of members’ interests, Philp has a shareholding of more than 15% and is a partner in Pluto Partners, Pluto Silverstone Co Invest, Pluto Monza Co Invest, Pluto Development Partners and Pluto Capital Management. The Treasury is currently without a permanent secretary after Tom Scholar was removed from his post by the chancellor, Kwasi Kwarteng, last week. The role is now being shared by two acting directors, Beth Russell and Cat Little. The Guardian